The global adsorbent market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Adsorbents are highly effective in removing contaminants such as hydrogen sulfide, carbonyl sulfide, carbon disulfide, hydrochloric acid, hydrofluoric acid, ammonia, elemental mercury, and other nitrogen-based compounds. Adsorbents are also economical when it comes to removing contaminants. Owing to such factors, the use of adsorbents has increased in petroleum refineries to eliminate contaminants and other undesirable compounds from hydrocarbon streams. Factors such as increasing global population and rising energy demands have resulted in the addition of new petroleum refineries and expansion of existing refinery complexes. These factors are expected to increase the demand for adsorbents during the forecast period, thereby driving the market growth.
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As per Technavio, the development of new-generation adsorbents will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Adsorbent Market: Development of New-Generation Adsorbents
With the emergence of new end-user applications, vendors in the market are focusing on the development of low-cost and highly effective adsorbents. For instance, the global rise in CO2 emission levels has led to the development of CO2 capture technology. This is driving vendors to develop adsorbents with high CO2 adsorption capacity to tackle CO2 emissions. Similarly, the rise in industrial and mining activities has negatively impacted the water quality and increased pollutants in open water reserves. This has compelled researchers and scientists to focus on the development of nano-adsorbents and polymeric adsorbents to remove contaminants in water. Vendors in the market are also focusing on the development of high-temperature-resistant adsorbents, adsorbents made of sustainable materials, and adsorbents with the ability to capture specific contaminants. The development of such next-generation adsorbents is expected to boost the growth of the global adsorbent market during the forecast period.
Apart from the development of new-generation adsorbents, increasing focus on regeneration and recycling of adsorbents and rising investments in the shale industry are some other major factors that will boost market growth during the forecast period, says a senior analyst at Technavio.
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Global Adsorbent Market: Segmentation Analysis
This market report segments the global adsorbent market by product (zeolite-based adsorbents, activated carbon-based adsorbents, silica gel-based adsorbents, activated-alumina-based adsorbents, and others), application (process industries, water treatment, air separation, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This can be attributed to factors such as rapid population growth, development of new infrastructure, and high consumption of chemicals and petrochemicals in the region.
Technavios sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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